Note: Not presented for investment purposes, only to highlight the dynamics within the hemp industry to create "product avenues" for mutual corporate benefits.
Valens GroWorks Corp. (OTC: VGWCF), a vertically integrated provider of proprietary extraction methodologies, distillation, cannabinoid isolation, and purification has entered into a multi-year extraction services agreement to provide cannabis and hemp extraction services to The Green Organic Dutchman Holdings Ltd. (TGOD) (US:TGODF).
Under the terms of the initial 2-year agreement, TGOD will supply Valens with an annual minimum of 30,000kg in the first year, increasing to 50,000kg in year two, of cannabis and hemp biomass which Valens will process into premium quality resins and distillates using certified organic extraction processing methods. TGOD intends to use the concentrated cannabinoid resins and distillates to produce oils, sprays, and capsules as well as oils for vaporization and future edible, beverage and topical products. Valens expects the first shipment to arrive and begin processing early Q2.
Valens has been working closely with TGOD to expedite the pathway to organic certification for the company's organic processing methodologies. Upon accreditation, Valens will offer a 1-year exclusivity to TGOD for certified organic extraction processing services.
"The ability to partner with skilled and specialized extraction operators such as Valens will add significant bench strength to TGOD's already robust extraction capabilities in Canada, Poland, and Jamaica," said Brian Athaide, Director and CEO of TGOD. "We believe the importance of high-quality cannabis oils will continue to greatly increase as patients and consumers look for safer and healthier delivery methods."
"We are excited to work with TGOD, Canada's premier certified organic producer," said Tyler Robson, CEO of Valens GroWorks. "Organic resonates with consumers, and Valens looks forward to helping accelerate TGOD's time to market with the launch of its hemp-derived CBD product line in the coming months."
About The Green Organic Dutchman Holdings Ltd.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) is a premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean, and Latin America, as well as the Canadian adult-use market. The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD's products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a planned capacity of 219,000 kgs and is building 1,643,600 sq. ft. of cultivation and processing facilities across Ontario, Quebec, Jamaica, and Denmark.